Rakuten American Express® Card
A no-annual-fee transferable-points card from Rakuten.
Rates, fees, and full terms are set by Rakuten and can change. See current rates & fees on the issuer’s site, and always confirm the latest terms before applying.
Our review
The Rakuten American Express Card is a sneaky-good little card, and the reason has nothing to do with the numbers on the front. On paper it is a no-fee cash-back card that earns 2% on groceries and restaurants and 1% elsewhere, which is fine but unremarkable. The magic is what it plugs into: Rakuten is the one shopping portal that can pay you in Amex Membership Rewards points, and this card layers its own 4% Rakuten bonus on top of that, with the option to funnel the whole thing into transferable Amex points.
That turns an ordinary free card into a genuine Membership Rewards accelerator for anyone who shops online through Rakuten. You are earning from the portal and the card at the same time, and both streams can become points that transfer to airlines and hotels. If you never touch Rakuten, this card is forgettable. If you do, it quietly becomes one of the most efficient no-fee point earners you can carry.
Think twice if: you do not shop through Rakuten, since without the portal the card is just a middling cash card at 2% and 1% that plenty of flat-rate cards beat.
Our 7.8 out of 10 rating
Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.
Earning rates at a glance
Rewards: how it earns
The everyday earn is modest and honest: 2% on groceries and restaurants, 1% on everything else. Nobody should carry this as a catch-all. What makes it special is the Rakuten stack. Shopping through Rakuten, you earn the portal’s payout plus an extra 4% from the card (on up to $10,000 of Rakuten spending a year), and on Rakuten Dining you get 10% at 22,000-plus restaurants. Crucially, all of it can be taken as Amex Membership Rewards rather than cash, so it becomes points that transfer to 20-plus travel partners. Layer an Amex Offer and a transfer bonus on top and the accumulation gets genuinely impressive; I walk through the whole play in stacking the Rakuten Amex Card for massive Membership Rewards. Valued honestly at a flat cent, the points are worth what they are, but the volume you can rack up on spending you were already doing is the real story.
| Category | Rate | Notes |
|---|---|---|
| Dining and restaurants | 2x | Bonus category |
| Groceries | 2x | Bonus category |
| Everything else | 1x | Everything else |
The fine print on rates: The 4% Rakuten and 10% Rakuten Dining rates apply only on Rakuten's platform, stacked on the Cash Back you already earn as a Rakuten member; everyday spending earns 2% on groceries and restaurants and 1% elsewhere. Rewards post as cash back but can be converted to American Express Membership Rewards points.
Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.
Best ways to earn & redeem
Put your dining and groceries spending on this card to earn at its highest rates, and let a different card handle the categories it does not bonus. Its dining rate is on the modest side for that category, so compare before you commit.
When you cash in, transfer the points to airline and hotel partners for potential outsized value, or take a flat 1 cent as cash or travel. We value every point at a flat 1 cent, so treat any transfer upside as a bonus rather than the baseline — see what your points are really worth.
Pros and cons
- 2x on dining
- 2x on groceries
- No annual fee
- Welcome offer worth about $100
- Points transfer to American Express's airline and hotel partners
- No foreign transaction fees
- Few real drawbacks for the right user
The welcome bonus
The welcome bonus is small but easy: $100 after $1,000 of spending in the first 90 days. It will not change your life, but on a no-fee card with a bar most people clear without trying, it is free money and a fine reason to open the card if Rakuten is part of your routine.
First-year value vs ongoing value
| Welcome bonus | $100 Cash Back |
| To earn it | $1,000 in 3 months |
| Est. first-year value* | $482 |
| Est. ongoing value / yr* | $382 |
The welcome bonus makes year one the high point: roughly $482 in value once you count the bonus, this card’s rewards, and its credits, minus the no fee. After that, the honest figure is about $382 a year, so judge whether it earns its keep on the ongoing number, not the first-year headline.
*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.
Benefits and protections
Beyond the rewards, the perks and protections worth knowing about include:
- Extra 4% cash back on Rakuten purchases (up to $10,000/yr, then 1%), on top of the regular Rakuten Cash Back you already earn
- Convert rewards to American Express Membership Rewards points and transfer to 20+ airline and hotel partners
- No foreign transaction fees
- Backed by the American Express network, with access to Amex Offers and Experiences
Statement credits
This card does not come with recurring statement credits. Its value is in the rewards rate and welcome offer.
Ecosystem and transfer partners
The Rakuten American Express® Card earns Membership Rewards, one of the more valuable currencies in rewards because of where the points can go. You can move points 1 to 1 to 10 airline and hotel partners: Delta SkyMiles, British Airways, Air France/KLM, Singapore Airlines, ANA, Avianca LifeMiles, Emirates Skywards, Marriott Bonvoy, Hilton Honors, and The Leading Hotels of the World. As an earner, its job is to rack up points cheaply that you move to a hub card before transferring. The sweet spots are usually premium-cabin flights and high-end hotel nights, where a single point can be worth well more than the 1 cent we value it at here.
Airline partners: Delta SkyMiles, British Airways, Air France/KLM, Singapore Airlines, ANA, Avianca LifeMiles, Emirates Skywards, The Leading Hotels of the World.
Stop guessing at point values. Look up the real mileage price and live seat availability for a specific flight.
Search award flights on seats.aero →Hotel partners: Marriott Bonvoy, Hilton Honors.
Look up the live points price and availability for a specific hotel stay before you book.
Search award stays on rooms.aero →Who should get it, and who should skip it
Get the Rakuten American Express Card if you shop online through Rakuten and you collect Amex Membership Rewards. For that person it is close to free value: it turns normal online shopping into a steady stream of transferable points, especially once you learn to stack the portal, the card’s 4%, an Amex Offer, and a transfer bonus on the same purchase.
If Rakuten is not part of your life, skip it. Without the portal you are left with a card at 2% and 1% that a flat 2% option beats outright. This is a specialist tool, not a daily driver, and it is only worth carrying for the specific habit it rewards.
Alternatives to the Rakuten American Express® Card
Pairs well with
The Rakuten American Express® Card earns Membership Rewards but cannot transfer on its own. Pair it with an American Express transfer hub to unlock airline and hotel transfers.
Frequently asked questions
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How does it rank for your spending?
Every card is ranked by what it actually returns on the way you spend. Run your numbers and see where the Rakuten American Express® Card lands.
Calculate My CardOffer details verified against issuer sources as of October 2026. Editorial opinions are our own. Cardocrat values all points at a flat 1 cent and never inflates redemptions.
